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Remember the movie Catch Me If You Can? It starred Leonardo DiCaprio as Frank Abagnale.
Abagnale was a criminal who specialized in fraud. He pretended to be an airline pilot, a lawyer, and even a doctor.
But one of his favorite frauds was plain old cheque fraud.
In fact, after he was captured and convicted, Abagnale got his prison sentence shortened by promising to help the Feds bust criminals specializing in fraud.
He gave lectures to banks, cheque printers, and Fortune 500 companies about what security features they should include on their cheques to deter criminals like him.
But now, if you’re like most business owners or private individuals, you’re writing a lot fewer cheques than you did 10 years ago.
So, you might be tempted to think, “I don’t really need to worry about cheque security. I’ll just order whatever is cheaper. No need to heed Mr. Abagnale.”
Cheques are becoming way more popular…with criminals.
According to the Federal Reserve, cheques are the leading target for attempted fraud.
In fact, the more secure electronic payments become, the more criminals will target your cheques.
Criminals are lazy. They’re going to attack where you’re most vulnerable. And that’s your cheques.
So, what security features should YOUR cheques have?